Indian shares edged higher on Friday, extending recent sharp gains, as investors cheered the Federal Reserve's decision to keep interest rates low for at least two years. Other Asian markets are trading on a mixed note, helping limit the upside.
The benchmark 30-share Sensex is currently up 81 points or 0.48 percent at 17,077 while the broader Nifty index is gaining 28 points or 0.53 percent. Second-line stocks are rallying, with the BSE mid-cap and small-cap indexes moving up over a percent each.
Market heavyweight Reliance Industries is up 1.7 percent after the energy giant said its share buyback offer will begin from February 1. EIH is rallying 5 percent after ITC Chairman YC Deveshwar reportedly said at Davos that he would increase his stake in the company.
Tata Steel is gaining 2.2 percent after the steelmaker proposed to lay off 200 employees at four sites located in the U.K. and Netherlands. REC is up 2.2 percent and Sesa Goa is climbing 6 percent after they posted better than expected quarterly earnings.
Reliance Power is edging up 0.2 percent after the company inked an agreement with RWE Power International of Germany to help double coal production at its captive mines of the Tilaiya ultra-mega power project.
Kirloskar Oil is gaining 0.7 percent after its board approved a share buyback at a price not exceeding Rs. 170 per share. Central Bank of India is rising 0.6 percent ahead of a board meet next week to consider a preferential share issue in favor of the government.
Ranbaxy Laboratories is tumbling 4.2 percent after the drug maker agreed to make significant changes in its manufacturing facilities in India and the U.S. as part of a settlement that ends wide-ranging investigations against the company by the U.S. regulatory authorities.
ONGC is marginally lower on reports that its follow-on public offer will likely take place towards the end of the current fiscal year. Indian Hotels is down 0.2 percent on reporting disappointing quarterly results. BHEL is down 0.6 percent while NTPC is moving up 0.7 percent ahead of their quarterly results today.
Indian shares rose to a more than two-month high on Wednesday, as FIIs stepped up buying and traders squared off short positions on the expiration of January series derivative contracts. The benchmark BSE Sensex finished the day up 81 points or 0.48 percent at 17,077, while the broader Nifty index index rose 31 points or 0.60 percent to 5,158. The markets were closed on Thursday for the Republic Day holiday.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.